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File Your Company Accounts on Time:Personal liability - 0 views

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    All companies must send their accounts to Companies House each year. Recent evidence suggests that UK companies are increasingly struggling to file their accounts on time, with around 213,000 private companies reportedly missing their deadline in 2019-2020, resulting in over £93 million of penalties being issued. Over a fifth of companies that filed their accounts late that year had also filed late in the previous year. Under the Companies Act 2006 ("the Act"), the deadline for private companies to file their annual accounts is nine months from the end of the accounting reference period. There are slightly different rules for filing your first set of annual accounts and if these cover a period of more than 12 months, you must deliver them to Companies House within 21 months of the date of incorporation or 3 months from the accounting reference date, whichever is longer. Not filing your accounts at Companies House in a timely manner is also a criminal offence (under section 451 of the Act) and directors can be personally fined in the criminal courts. It is likely to come as a shock to most company directors who receive a summons to attend the Magistrates' Court in Cardiff for a criminal prosecution, particularly directors in larger pharmacy companies where directors are often detached from the preparation of accounts and senior financial staff and accountants are instructed to take care of such matters.
pharmacybiz

Tips On How To Choose Quality Supplements For You - 0 views

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    When it comes to supplements, more and more people are starting to become interested in them. This is because supplements have a lot of benefits that can improve a person's health in many ways. However, with the increasing popularity of supplements also comes an increase in the number of low-quality and ineffective supplements on the market. Because of this, it is important for people who are interested in taking supplements to know how to choose quality ones that will be beneficial to their health. In this article, we will discuss some tips on how to do just that. CHOOSE SUPPLEMENTS FROM A REPUTABLE COMPANY Finally, one of the best ways to ensure that you're getting a quality supplement is to choose one from a reputable company. There are many different supplement companies out there, but not all of them are created equal. Some companies are more interested in making money than they are in providing their customers with safe and effective products. Therefore, when you're looking for supplements, it's important to do some research on the different companies that sell them. See if there have been any complaints filed against the company or if their products have been recalled by the FDA. Also, look for customer reviews of the company's products to see what other people have thought about them. As explained by the folks from Supplement First, A good supplement company will have no problem providing you with this information and will be happy to answer any questions you have. Doing some research on the company beforehand can save you a lot of time and money in the long run.
pharmacybiz

Johnson & Johnson: World 4th Most Innovative Company in 2023 - 0 views

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    Johnson & Johnson has made it to the list of top 10 most innovative companies in the world released by FOREX.com. The US-based pharmaceutical company is the fourth most innovative company, scoring 8.23/10 in the innovation index. Johnson & Johnson is the only pharmaceutical company making it to top 10 list, which makes it the world's most innovative pharmaceutical company in 2023. The ranking is based on many factors such as the number of US-registered patents in 2022, the number of R&D expenses over the last 12 consecutive months and their last reported intangible assets. The health giant spent £37.16 billion on intangible assets (the second highest after Apple), £11.87 billion on R&D last year and registered 1,377 patents last year.
pharmacybiz

David Wright: HRA Pharma's former CEO joins Ceuta Group - 0 views

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    Ceuta Group, a global brand building business providing end-to-end outsourcing services in the health and wellness industry has appointed David Wright as a non-executive board director. With extensive experience of leading global consumer healthcare companies, David joins Ceuta Group following five years as CEO/President of global pharmaceutical company, HRA Pharma and six years as Global Head of Boehringer Ingelheim's consumer business. During his time at HRA Pharma and Boehringer Ingelheim GmBH, David led both companies through substantial organisational and strategy re-design which led to sustainable growth and profitability. The company said: "David has a strong belief that combining the right structure, operational priorities and processes, with a strong focus on company culture, are critical factors in building successful businesses. This approach saw him lead a period of transformation at HRA Pharma resulting in the company's successful acquisition by Perrigo Company plc." David will take an active role on the Ceuta Group Board supporting and building the company's strategic vision and priorities. He will also help shape the company's growth plans on an operational level to ensure Ceuta Group continues to meet client's needs today and into the future.
pharmacybiz

India cancels licences of drug firms on fake products - 0 views

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    Indian authorities have cancelled or suspended licences of some domestic drug companies as part of action taken against 76 pharmaceutical firms this month for selling adulterated or fake products, a government source said on Thursday. India is known as the 'pharmacy of the world' and its pharmaceuticals exports have more than doubled over the past decade to $24.5 billion in 2021-22. But that image has been dented by the death of at least 70 children in Gambia and 19 children in Uzbekistan in Uzbekistan last year linked to drugs made by India-based pharmaceutical companies. Health Minister Mansukh Mandaviya confirmed a crackdown but did not give details of companies against which action had been taken. "There are more than 10,500 pharma companies in the country. Companies who make spurious medicine will not be spared," Mandaviya told reporters at an event. Licences of some Indian drug companies have been cancelled, some were suspended while others have been put on notice during the past 15 days, the source, who had direct knowledge of the matter, told Reuters news agency.
pharmacybiz

Indian Pharma Companies To Supply Oral Covid Drugs Globally - 0 views

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    Indian pharmaceutical companies are gearing up to become global suppliers of repurposed Covid-19 drugs. With the launch of new innovative Covid-19 oral drugs, Indian companies are again expected to grab opportunities in the global supply of oral Covid-19 drugs, according to data and analytics company GlobalData. As several countries witness increasing cases of Covid-19 despite vaccination, they have started booking supply orders for innovative Covid-19 treatments like antibody cocktails, monoclonal antibodies and the latest addition such Merck's the oral Covid-19 drug 'molnupiravir'. Prashant Khadayate, pharma analyst at GlobalData, comments: "Oral treatment for Covid-19 would be the most convenient option for the patients ranging from mild to moderate Covid-19 and would not require a hospital setting. Currently, a majority of the Covid-19 treatments require a hospital setting." According to GlobalData's Pharma Intelligence Center, the UK is the first country to approve molnupiravir which is in pre-registration stage in the US, EU and Japan.
pharmacybiz

Rosalind Brewer Resigns as CEO of Walgreens Boots Alliance - 0 views

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    Rosalind Brewer, the CEO of Walgreens Boots Alliance, Inc. (WBA), the parent company of Boots UK, has resigned from her position after serving for less than three years. The prominent US pharmaceutical company is currently in the process of searching for her successor. Ginger Graham, the lead independent director, has been appointed as the interim CEO. "WBA's board of directors and Brewer have mutually agreed on her departure as chief executive and board member," the company said in a statement. Brewer officially stepped down from her roles as chief executive and director on Thursday (Aug. 31). She assumed the CEO role in March 2021, succeeding Executive Chairman Stefano Pessina. Prior to this, Brewer held the position of CEO at Starbucks. The leadership change aligns with WBA's shift towards becoming a broader healthcare company, a strategic move initiated by Brewer and her team in October 2021.
pharmacybiz

Pfizer, BioNTech countersue Moderna over vaccine patents - 0 views

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    Pfizer and its German partner, BioNTech, fired back at Moderna on Monday in a patent lawsuit over their rival Covid-19 vaccines, seeking dismissal of the lawsuit in Boston federal court and an order that Moderna's patents are invalid and not infringed. Moderna first sued Pfizer in August, accusing the company of violating its rights in three patents related to innovations that Cambridge, Massachusetts-based Moderna said it pioneered before the Covid-19 pandemic. Moderna has also filed a related lawsuit against Pfizer and BioNTech in Germany. All three companies are also embroiled in US patent disputes with other companies over the vaccines. A Pfizer spokesperson said the company and BioNTech are confident in their intellectual property and will "vigorously defend" against Moderna's claims. Moderna did not immediately respond to a request for comment on the Monday filing.
pharmacybiz

Essential Pharma Receives Manufacturing licence - 0 views

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    Essential Pharma, an international speciality pharma group, has procured an establishment and manufacturing licences in Switzerland and Malta. Following a successful inspection by Swissmedic, the company has been granted an establishment licence in Switzerland, which will allow the company to significantly enhance its supply chain efficiency for a wide range of important medicinal products. It will apply to transactions for both finished and unfinished pharmaceuticals, allowing importing, exporting, wholesaling and trading abroad. Essential Pharma has also received a manufacturing and importation authorisation (MIA) in Malta, following a successful Good Manufacturing Practice (GMP) inspection by the Malta Medicines Authority. The MIA will allow the company to import medicinal products into the European Union where manufacturing has taken place in a third country. This will allow greater flexibility in how the business manages the flow of medicines across its territories. These approvals strengthen the company's geographical expansion, improve its operational efficiencies, and enhance its offering as a global business partner. They will also provide new strategic opportunities for the company and will play a fundamental role in driving value creation through functional improvements to scale and productivity.
pharmacybiz

Viral Vector Technology: Enhancing Vaccine Effectiveness - 0 views

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    Immunogenicity refers to the capacity of a vaccine to provoke an immune response in the body. An effective immune response is characterized by the production of specific antibodies, activation of immune cells, and the development of immunological memory. The goal is to elicit a durable and robust response that can prevent or control infections. Leveraging Viral Vector Technology Viral vectors serve as essential vehicles for delivering antigenic proteins or genetic material into target cells, triggering an immune response. Biotechnology companies have been exploring advanced strategies to optimize viral vector design, aiming to enhance immunogenicity and improve vaccine effectiveness. Vector Selection: The choice of viral vector plays a crucial role in determining immunogenicity. Different viruses have unique properties and characteristics that can impact immune responses. Biotechnology companies meticulously select viral vectors that possess the desired attributes, such as the ability to infect target cells efficiently and induce strong immune responses. Genetic Engineering: Advanced genetic engineering techniques are employed to modify viral vectors, tailoring them to specific vaccine requirements. By introducing specific antigenic proteins or genetic material, researchers can stimulate the immune system to mount a targeted response. This precise manipulation enhances the vaccine's ability to elicit a robust immune reaction. Immunomodulatory Elements: Biotechnology companies are incorporating immunomodulatory elements into viral vector designs. These elements can enhance the immune response by stimulating various components of the immune system, such as antigen-presenting cells and T cells. By activating and priming these immune cells, the vaccine can generate a more potent and sustained immune response. Adjuvants: Adjuvants are substances added to vaccines to enhance their immunogenicity. They stimulate and amplify the immune response, improving the
pharmacybiz

PDA to reach out to LloydsPharmacy for better pay hike - 0 views

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    The Pharmacists' Defence Association (PDA) Union says it will be reaching out to LloydsPharmacy soon over a better deal on salary increase after the majority of its members rejected a three per cent offer made by the company recently. Paul Day, director, PDA Union told Pharmacy Business: "The PDA Union will communicate the response of employed pharmacists to the company and seek further discussion to try and find an offer that will be acceptable to union members. "Both management and union representatives have a vested interest in working to find such a solution and that is the outcome we hope to achieve." After months of negotiation by the PDA Union, the company offered a three per cent increase in salaries from the 1.8 per cent in the earlier offer made by the company. "Through negotiation over last few months that was increased to 3.0 per cent, plus a long term incentive plan (LTIP). Though the LTIP potentially offers large bonuses, it isn't guaranteed. Therefore what we put to members was the confirmed offer of three per cent increase in salaries," said Paul.
pharmacybiz

Pharma group seeks fairer future access for covid patents - 0 views

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    An alliance of companies has pledged to ensure equitable access to vaccines and treatments for pandemics, as the friction around intellectual property rights for Covid-19 interventions between the pharmaceutical industry and developing nations endures. At the heart of the plan is a commitment to set aside part of the production of vaccines and treatments upfront for vulnerable populations in low-income countries when the next pandemic arises, given how fragmented access to Covid tools has left many populations unprotected. In order to do better next time - and without knowing which companies will develop the first drugs and vaccines for the next pandemic - having the industry collectively make this commitment is potentially transformative, said Thomas Cueni, head of the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA). The pledge, called the Berlin Declaration, was made on July 19 by members of the global pharmaceutical industry group that include many of the companies involved in developing Covid interventions, such as AstraZeneca, GSK, Moderna, Pfizer and Merck. The declaration is not legally binding. However, if a company that signed on reneges on its vow, it would face grave consequences in the court of public opinion, said Cueni.
pharmacybiz

Ways to extract cash out of your business - 0 views

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    It is important to revisit our financial situation early in the tax year and the various ways in which we could save some tax, extract cash from the business and reduce tax liabilities. We list below some of the tax planning opportunities available in the current tax year (05 April 2023 for individuals and 31 March 2023 for corporates). Salaries As a director of a limited company, you are entitled to be paid a salary for your work and so are members of your family who work for the company. Paying at least a small salary can be very beneficial, particularly when the recipient does not already have the 35 qualifying years needed for entitlement to the full single-tier state pension, which is payable to those who reach state pension age on or after 06 April 2016. To preserve entitlement to state pension, and to ensure the year counts as a qualifying year, it is advisable to pay a salary at least equal to the lower earnings limit for National Insurance Contributions (NIC) which is set at £578 per month for 2022/2023 i.e., £9,100 per annum. Salaries may be beneficial where funds are needed in a recession for example, and the company does not have sufficient reserves to pay dividends. Dividends The annual tax-free dividend allowance for 2022/2023 is £2,000. Although referred to as an "allowance", it is actually a zero-rate band and therefore uses up your basic or higher rate band as appropriate. Dividends are treated as the top slice of income and for 2022/2023, dividend income is taxed at 8.75% to the extent it falls within the basic rate band, 33.75% if it falls within the higher rate band and 39.35% to the extent it falls within the additional rate band.
pharmacybiz

New CEO Tim Wentforth Takes the Helm at WBA - 0 views

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    Walgreens Boots Alliance, Boots UK's parent company, has appointed Tim Wentforth as its new CEO, effective on 23 October. He joined WBA at a pivotal time when the company plans to downsize the business while driving execution and creating greater value for employees, patients, customers and shareholders. Wentforth replaced Rosalind Brewer, who stepped down on 1 September, after two years at the helm. He joined from Evernorth, Cigna's health services organisation based in Connecticut, where he served as its founding CEO. Prior to Cigna, he also held top roles in companies including specialty pharmacy company Accredo and pharmacy benefit manager Express Scripts.
pharmacybiz

Indian court orders jail for 2 executives for shoddy drugs - 0 views

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    An Indian court has sentenced two pharmaceutical company executives to two-and-half years in jail for exporting substandard drugs to Vietnam a decade ago, months after the WHO linked their cough syrups to the deaths of children in Gambia. India suspended production at Maiden Pharmaceuticals in October last year for violations of manufacturing standards after the World Health Organization said four of its cough syrups may have killed dozens of children in Gambia. The company has denied its drugs were at fault for the deaths in Gambia and tests by an Indian government laboratory found there were no toxins in them. The company had been facing legal difficulties for years over suspected shoddy products. A court in Sonipat, near New Delhi, where Maiden has its main production facility, ordered jail for company founder Naresh Kumar Goel and technical director M.K. Sharma for exporting heartburn medicine "not of standard quality" to Vietnam.
pharmacybiz

Stada very keen to maintain its presence in Ukraine - 0 views

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    Generic and over-the-counter drugs company Stada has asked the German government to seek assurances from Ukraine that the company can continue operations there even though it also does business in Russia. In a March 21 letter to German Economy Minister Robert Habeck, Stada CEO Peter Goldschmidt said there was a risk Kyiv might withdraw the company's market authorisation. Stada "still has no longer-term certainty that we will be able to sell our products in Ukraine in the future," the letter said, with the subject line: "Please prevent the exclusion of international pharmaceutical companies from the Ukrainian market." The Economy Ministry did not have an immediate comment on the letter. Habeck promised investment guarantees for German companies during a trip to Ukraine on Tuesday (April 4) as part of his goal to speed up reconstruction in the war-torn country. Goldschmidt said restricting Stada's operations would be bad for Ukraine.
pharmacybiz

Pharma Companies Face Suspension Amid Contamination Concerns - 0 views

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    The Indian government has suspended manufacturing in over 40 pharmaceutical companies based on a risk-based assessment conducted earlier in the year across 162 firms, according to the data provided by Union Health Minister Mansukh Mandaviya in Parliament on Thursday (Aug. 10). "Overall, a sum of 143 show-cause notices has been issued," Mandaviya said. There have been numerous recent incidents involving accusations from foreign countries regarding the contamination of syrups, eye drops, and ointments manufactured in India. Countries such as the Gambia, Uzbekistan, and Cameroon have linked the deaths of 70, 18, and six children, respectively, to cough syrups contaminated in India. Licenses for specific products have been either temporarily suspended or fully revoked for an additional 66 companies. In one case, an FIR has been registered, and in 21 cases, warning letters have been issued following inspections by both the Central Drugs Standard Control Organization and State authorities, the Minister added. Meanwhile, the Indian government has mandated rigorous testing for cough syrups before export. Starting June 1, any cough syrup must possess a government laboratory-issued certificate of analysis before being exported, the government said in a notice dated May 22.
pharmacybiz

JAS Healthcare Unit Granted WDA(H) License for Pharma Excellence - 0 views

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    Global logistics company, JAS has received the Wholesale Distribution Authorisation (WDA(H)) license from the UK's Medicine and Healthcare Products Regulatory Agency (MHRA) for its Pharma and Healthcare Division. In a press release issued on Thursday (22 February), the company said that securing the license empowers its UK healthcare division to "seamlessly connect" with its more than 40 GDP (Good Distribution Practice) certified overseas stations, strengthening its capabilities for handling pharmaceutical shipments. Headquartered in Atlanta, Georgia, USA, the company boasts a team of over 7,000 professionals, with operations spanning over 100 countries. Adrian Frodsham, Regional Director for JAS, said that they were granted the WDA(H) license after a "stringent audit process." "JAS UK's pharma and healthcare division prides itself of offering innovative solutions for the international delivery of pharmaceutical products, further enhancing the growth of our pre-established healthcare division," he added.
P3 Healthcare Solutions

A healthcare System without Surprise Medical Bills is a Progressive System - 0 views

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    Health is an important asset to human beings. Patients, physicians, medical billing companies, insurance companies, clearinghouses, all are connected in one way or another to offer quality services. Physicians are then reimbursed for their services and that's how the process flows.
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    Health is an important asset to human beings. Patients, physicians, medical billing companies, insurance companies, clearinghouses, all are connected in one way or another to offer quality services. Physicians are then reimbursed for their services and that's how the process flows.
P3 Healthcare Solutions

How to Evaluate Medical Billing Companies - 0 views

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    Most providers perform a thorough evaluation of various factors when hiring a medical billing company to handle their revenue cycle. Once the company is selected, less effort goes into re-evaluating the company.
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